S&P 500 Index Future (ES1) | On Thursday 18/08 I discussed the index, highlighting the potential for downside. We have since seen the index lower by 221 points or -5.8% by Friday's close, with the price having been rejected at the declining trend line and continuing it's downside from an overbought range, as per the technical metrics at the time. The next key levels are: 50-61.8% retracement between 3904 and 3985. This is also in line with the rising trend line extending back to the 17 June low.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.